- AUD/USD forecast remains up as the pair climbs near 0.6630 amid stronger-than-expected Australian CPI data.
- The Fed remains cautious on rate cuts, with Powell stressing inflation risks, while Bowman advocates for faster easing to protect the labor market.
- The RBA is seen as more hawkish than the Fed, with Barclays forecasting the AUD/USD to break above its months-long trading range in Q4.
The AUD/USD price trades above the 0.6600 handle during the European session on Wednesday. The pair gains despite the dollar’s firm footing. The move came despite Fed Chair Powell’s remarks, who reiterated that the inflation risk remains high and the Fed might not rush into further rate cuts.
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The US dollar index (DXY) gained above 97.00, reflecting a broader dollar resilience. Powell highlighted that…
